run above 93.5 to perhaps 96 would blow stops and generate the volume to sell into for a reversal. DEMTDAYBOYZ got some balls to generate 2 30 point rips in the same week.
so tempted to go long again here at 92 but being up so much on the day ill just let it go up without me and play it safe. 1098 or so coming up??
Unlike last year, where the run up to resistance are all light volume, this time, heavy volume pushing ... A breakout that cannot close above the breakout level the very next day will confirm breakout failure =P For now, using option is definitely the better play for downside bias.
I think we need to wait till the close, we could still see a breakout to HH, market could just be resting right now. I was long NG. and got stopped out right before it moved higher. I then hopped on CL, and got out a bigger profit than my previous stop so not bad trading today. I manually stopped out of NG instead of taking a bigger stop after it 1st went in my direction then reversed and started going lower than the previous candle. It would have hit my normal stop before going a bit lower then reversing higher. On CL trade, I could have held on a little more and maybe should have but once I was at the point where I not only made back the previous loss but had a profit it was hard to hold on any longer and I got out at a decent profit.
What coincidence that we today have much lower volume between 02:30 and 03:30. Must be algos on strike. Seems almost NOBODY is willing to sell. Strange enough all algos have decided it at the same time. Ay, ay, ay what coincidence.